Macro-Marketing Environment

Macro-Marketing Environment

According to Philip Kotler, the marketing environment refers to ”external factors and forces that affect the company’s ability to develop and maintain a successful relationship with its target customers.’’

Macro Environmental Factors

The following are the commonly identified macro-environmental factors that influence marketing:

1.Demographic

2.Technological

3.Economic

4.Political

5.Natural

6.Cultural

Demographic environment.

This environment entails several people found in a particular place at a given time. It relates to their gender, race, size, location as well as distribution. This environment informed Marketers on how to sample, stratify and segment the target markets where they will attract potential customers.

Technological environment.

Technological forces are ever dynamic, and they influence marketers’ opportunities, methods of new product development and ways of exploring new frontier markets. Techniques applied in presenting a proposition to the market and know-how keep on changing. Today a firm that does not embrace the use of computers and the internet may not make a lot of sales to make a firm enlarge.

Economic environment.

Factors that influence consumer spending habits and purchasing power affect the marketing approach and strategies of a firm. It entails consumers’ income levels, states of the economy, business cycles and wealth distributions across regions. For example, in case a person’s disposable income increases, so do his expenditure, which in turn informs the marketing approaches to be adopted.

Political environment.

Government legislations through acts and political activities of different political activist groups influence and informs marketers. Some legislation may deter or promote products being offered by a firm hence the need to check on this environment. An organization should closely monitor the actions of political activists. Some of their sentiments may not favour a firm’s products while some may favour and lead to increased sales.

Natural environment.

The natural factors include the natural resources extracted from their natural settings to manufacture and process the final goods for the market. The marketing department needs to monitor this environment and put in place measures to mitigate shocks of shortages in the market in case they occur.

Cultural environment.

Cultural factors affect a marketing strategy of the firm, Religious belief, a society’s heritage, beliefs, and traditions influence the marketing approaches of a firm. A business should keenly observe it’s a marketing approach to avoid conflict with the social fabric of a homogenous group governed by their unique culture.

CONCLUSION.

The Macro environmental factors are outstandingly

complex and beyond direct control and manipulation by the firm. An organization should monitor this environment and exploit the opportunities it may create and avoid threats it poses.

Reference.

1.Yvonne .Y (2016)The influence of macro and micro –environmental factors on the consumption of mobile phones and marketing strategies: Southern Cross University, Lismore, NSW.ePublications@SCU.

2.Shadhin K.(2016)Marketing environment: macro and micro marketing environment: Retrieved from https://www.iedunote.com/marketing-environment.